EXHIBIT 10.5
FIRST AMENDMENT
TO THE
THIRD AMENDED AND RESTATED STOCKHOLDERS AGREEMENT
OF CYPRESS COMMUNICATIONS, INC.
This First Amendment dated November 23, 1999 (this "Amendment") to the
Third Amended and Restated Stockholders Agreement of Cypress Communications,
Inc. dated effective October 8, 1999 (the "Stockholders Agreement") is by and
among Cypress Communications, Inc. (the "Company"), Brookfield International
Properties Inc. ("Brookfield"), Boston Limited Partners, Cornerstone Properties
Limited Partnership and DWS Capital LLC (individually a "New Holder" and
collectively the "New Holders"), and all of the Stockholders of the Company
party to the existing Third Amended and Restated Stockholders Agreement of the
Company ("the Stockholders Agreement").
STATEMENT OF FACTS
A. In connection with the issuance of additional shares of Series C Preferred
Stock to the New Holders, the Company desires to admit the New Holders as
Stockholders and as New Investors of Company.
B. Each of the New Holders desires and agrees to be bound to all provisions of
the Stockholders Agreement.
C. The Company and the Stockholders hereby agree to amend the Stockholders
Agreement accordingly.
D. Capitalized terms used herein shall have the meanings set forth in the
Stockholders Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual promises and covenants set
forth herein, and pursuant to Section 7.3 of the Stockholders Agreement, the
Company, the New Holders, and the Stockholders agree as follows:
1. The New Holders are hereby admitted as Stockholders, as Investors and
as New Investors of the Company, with all the privileges and
obligations associated therewith under the Stockholders Agreement.
2. Each New Holder agrees to be bound to all provisions of the
Stockholders Agreement.
3. Section 1.8 is hereby amended so that Section 1.8 reads as follows:
"1.8 "Initiating Holders" shall mean (i) collectively,
Centennial and Entrepreneurs Fund and their transferees permitted
under this Agreement, (ii) collectively, Alta and Alta-Comm and their
transferees permitted under this Agreement, (iii) collectively,
Building Communications, Tenant Communications and ICL, (iv)
collectively, NAS and Nassau, and their transferees permitted under
this Agreement, (v) collectively, Gramercy and its transferees
permitted under this Agreement, (vi) collectively, AEW and its
transferees permitted under this Agreement, (vii) collectively, Cycom
and its transferees permitted under this Agreement, (viii)
collectively, Transwestern and its transferees permitted under this
Agreement, (ix) collectively, upon their purchase of Series C
Preferred Stock and their execution of this Agreement, the REIT
Investors and their transferees permitted under this Agreement, (x)
collectively, Brookfield and their transferees permitted under the
Agreement, and (xi) collectively, Founding Stockholders holding
Registrable Securities representing not less than sixty-five percent
(65%) of the then-outstanding Founding Stock (excluding any
outstanding Reserved Employee Stock)."
4. The first sentence of Section 2.1(a) is hereby amended by changing the
reference to clauses (i) through (ix) to clauses (i) through (xi) so
that, as amended, the first sentence of Section 2.1(a) reads as
follows:
"(a) Request for Registration. At any time or times after
the effective date of the first registration statement filed by
the Company under the Securities Act, each group of Initiating
Holders (as described in clauses (i) through (xi) of Section 1.8,
except as otherwise provided herein, may require that the Company
effect one registration under the Securities Act utilizing a
registration on Form S-1 or any similar form (a "Long Form
Registration") and as many times as requested by the Initiating
Holders utilizing a Form S-3 or any similar form, if available (a
"Short-Form Registration") (each a "Demand Registration")."
5. All remaining provisions of the Stockholders Agreement shall remain
unchanged and effective and are incorporated herein by reference.
IN WITNESS WHEREOF, the parties hereto have executed this First
Amendment to the Third Amended and Restated Stockholders Agreement effective as
of the day and year first above written.
Company
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CYPRESS COMMUNICATIONS, INC.
By: /s/ R. Xxxxxxx Xxxxx
--------------------------------
Name: R. Xxxxxxx Xxxxx
------------------------------
Title: Chief Executive Officer
-----------------------------
Stockholders
------------
INVESTORS:
CENTENNIAL FUND V, L.P.
By: Centennial Holdings V, L.P., General Partner
By: /s/ Xxxxxxx X. Xxxxxx
---------------------------------
General Partner
CENTENNIAL ENTREPRENEURS FUND V, L.P.
By: Centennial Holdings V, L.P., General Partner
By: /s/ Xxxxxxx X. Xxxxxx
--------------------------------
ALTA COMMUNICATIONS VI, L.P.
By: Alta Communications VI Management Partners,
L.P.
By: /s/ Xxxxxx XxXxxxxx
--------------------------------
General Partner
ALTA-COMM S BY S, LLC
By: /s/ Xxxxxx XxXxxxxx
--------------------------------
Member
TENANT COMMUNICATIONS, INC.
By: /s/ Xxxx Xxxxxxx
--------------------------------
Name: Xxxx Xxxxxxx
------------------------------
Title: SVP
-----------------------------
BUILDING COMMUNICATIONS, LLC
By: Beacon Capital Partners, L.P., Member
By: Beacon Capital Partners, Inc.,
its General Partner
By: /s/ Xxxx Xxxxxxx
--------------------------------
Name: Xxxx Xxxxxxx
------------------------------
Title: SVP
-----------------------------
INVESTOR COMMUNICATIONS llc
By: Beacon Communications LLC,
its Manager
By: /s/ Xxxx Xxxxxxx
--------------------------------
Name: Xxxx Xxxxxxx
------------------------------
Title: Manager
-----------------------------
NAS PARTNERS L.L.C.
By: /s/ R A Hack
--------------------------------
Name:______________________________
Title:_____________________________
TRANSWESTERN COMMERCIAL SERVICES, L.L.C.
By: /s/ Transwestern Commercial
Services, L.L.C.
--------------------------------
Name:
______________________________
Title: Executive Vice President
-----------------------------
GRAMERCY CYPRESS LLC
By: /s/ Xxxxxxxx Xxxxxxxxx
--------------------------------
Name: Xxxxxxxx Xxxxxxxxx
------------------------------
Title: Managing Director
-----------------------------
NASSAU CAPITAL PARTNERS III, L.P.
By: Nassau Capital L.L.C.
By: /s/ R A Hack
--------------------------------
Name:______________________________
Title:_____________________________
XXXXXX CYCOM INVESTMENT L.L.C.
By: /s/ Xxxx X. Xxxxxxx
--------------------------------
Name:______________________________
Title:_____________________________
AEW PARTNERS III, L.P.
By: AEW Partners III, L.L.C., its General Partner
By: /s/ Xxxx Xxxxxxxx
--------------------------------
Name: Xxxx X. Xxxxxxxx
------------------------------
Title: Vice President
-----------------------------
FOUNDING STOCKHOLDERS:
/s/ R. Xxxxxxx Xxxxx
-----------------------------------
R. Xxxxxxx Xxxxx
/s/ Xxxx X. Xxxxxxxxx, Xx.
-----------------------------------
Xxxx X. Xxxxxxxxx, Xx.
/s/ Xxxxxxx Moh
-----------------------------------
Xxxxxxx Moh
ITC Service Company
By: /s/ Xxxxxxxxx Xxxxxxxx
--------------------------------
Name: Xxxxxxxxx Xxxxxxxx
------------------------------
Its: Sr. Vice President
-------------------------------
___________________________________
Xxxxxx Xxxxxxxx
___________________________________
Xxxx X. Xxxxxxx
___________________________________
Xxxx X. Xxxxxxxx
/s/ Xxxx X. Xxxxxx
-----------------------------------
Xxxx X. Xxxxxx
NEW HOLDERS:
BROOKFIELD INTERNATIONAL PROPERTIES, INC.
By: /s/ Xxxxxx X. Xxxxxxxx
--------------------------------
Name: Xxxxxx X. Xxxxxxxx
------------------------------
Title: Director
-----------------------------
BOSTON PROPERTIES LIMITED PARTNERSHIP
By:________________________________
Its General Partner
By:________________________________
Name:______________________________
Title:_____________________________
CORNERSTONE PROPERTIES
LIMITED PARTNERSHIP
By:________________________________
Its General Partner
By:________________________________
Name:______________________________
Title:_____________________________
DWS CAPITAL LLC
By:________________________________
Name:______________________________
Title:_____________________________
